Optimists and analysts are in agreement that PayPal (NASDAQ: PYPL) stock is presenting a tremendous buying opportunity; despite being down 9% over the last year, 67% since the start of 2022, and 25% over the last five years. The hope is that the new leadership and the shift towards easier-to-use passwords and package tracking combined with a potential drop in interest rates near the beginning of 2024 all points to good news. Furthermore, the company has a solid balance sheet and is keeping most of their customers. That said, there remain skeptics, such as David Moadel, that are expressing caution due to signs indicating a transition year coming, Venmo’s losing of Amazon (NASDAQ: AMZN) as a customer, and the uncertainties that come with cryptocurrency. Still, if PayPal is valued akin to what competitors like Apple (NASDAQ: AAPL) and Google (NASDAQ: GOOGL)(NASDAQ: GOOG) are and depending on what holds true with cryptocurrency, then investors might stand on the upside.
At the time of writing, Dana Blankenhorn held LONG positions in AMZN, AAPL, and GOOGL, as outlined in the InvestorPlace.com Publishing Guidelines.
